Some Accountancy Considerations Over the Cession of Claims

Lenghel Radu Dorin ()
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Lenghel Radu Dorin: Faculty of Economical Sciences Cluj-Napoca, Finance and Accountancy Department, Christian University “Dimitrie Cantemir” Bucharest

Ovidius University Annals, Economic Sciences Series, 2012, vol. XII, issue 1, 1497-1501

Abstract: The assignment of debts is the operation in which the creditor (assignor) transmits voluntarily, for value or with voluntary disposition, the right of debt to another person (assignee) who becomes in this way the creditor instead of him and can cash from the debtor the given debt. The accountancy of the contracts of assignment of debts to the assignee (the person who took over the debts) must be done according to the specified clauses of each contract. Through the assignment of debts, the right to debt of the cessionary is transmitted to the assignee for the nominal value of the debt, even if the transmission was done at a lower price. According to the accountancy regulations, in the case of claim assignment, the difference between the value of the assigned debt and the sum paid to the assignor represents income at the date of the report of rights and obligations, based on the contract clauses.

Keywords: cession of claims; doubtful debts; cessionary; releaser; adjustments for debts depreciation (search for similar items in EconPapers)
JEL-codes: M40 M41 (search for similar items in EconPapers)
Date: 2012
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